Padma Oil's cost cuts drive profit up over 74pc in Q2

State-owned oil distributor Padma Oil secured a 74.52 per cent year-on-year growth in profit to Tk 1.25 billion in the second quarter of FY25.

This staggering profit growth was due to a more-than-nine-fold increase in operating income and a more than 50 per cent increase in non operating income in the quarter of FY25, compared to the same quarter a year ago.

In the quarter through December last year, the company not only did well in earning revenue but also contained administrative and selling costs remarkably, according to the company's latest financial disclosure.

As a result, operating income shot up more than 800 per cent year-on-year to Tk 0.26 billion in the second quarter of FY25.

The company's income in bank interest also soared 58 per cent year-on-year to Tk 1.19 billion in the second quarter of FY25.

In the six months to December of FY25, profit rose more than 53 per cent year-on-year to Tk 2.49 billion.

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